September 17, 2024 12:08 GMT
GILTS: Early Feb 10-Year Yield Low Holds In 10s
GILTS
10-Year gilt yields are through the previously outlined double bottom support area (3.742%), but early February lows (3.726%) have stopped the move from developing further.
- A fresh move lower would turn focus to early January ‘24/late December ’23 lows.
- Spill over from U.S. data & the FOMC adds to domestic risk events (BoE & CPI) due over the 48 hours, with cross-market sensitivities heightened in recent weeks.
Fig. 1: 10-Year Gilt Yield (%)
Source: MNI - Market News/Bloomberg
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